Uptown: 2000 McKinney (Lincoln office) (295 FT. / 20 ST.)

[GarrettCarey]

I noticed a sign today for future development on a piece of land just north of Woodal Rogers Expressway. The site fronted WRE to the east of Harwood (between the Bank One branch and Chase Bank branch). There is a temporary Beck structure sitting there, lots of trees, and I believe it said a 16 story development. It also had a rendering that resembled the Federal Reserve of Dallas. I was driving so it was hard to see/read. Has anyone seen this yet?

[KelleyUSA]

Garrett,

I too have noticed this sign and I also thought the rendering looked very much like the Federal Reserve Building. The development is actually a Trammel Crow development. In addition, the Beck building and the trees are there for the Nasher Sculpture Center. They located all that stuff across the street for the time being until the Center is complete. As for the development itself- the rendering was not very impressive and I'd be very surprised if this ever got off the ground. The sign indicates it's a 16 story office development. Anyone else have any thoughts on this?

[UrbanLandscape]

Ah, okay, that makes sense now.

I don't know anything, but if it's true, retail might be good. You can only handle so many bare lobbies here!

[crescentboi]

I think that it would be wonderfull for them to build some mixed use developement there, or even just offices, but something to fill that space in. And also with it right across from the Nasher Garden, those offices facing downtown would have a great view of the skyline and the garden itself, I just feel that it should be taller than 16 stories.

[UrbanLandscape]

Wait...on the north side? Hang on there!

Anyone know what happened to this?
<img src="http://images.ofoto.com/photos286/1/88/0/74/93/0/93740088105_0_ALB.jpg" style="border:0;"/>

Also shown as this...
<img src="http://www.beckarchitecture.com/PAGES/OFFICE/AerialEast.JPG" style="border:0;"/>

Yeah, there are better ways to use that land.

As for what we were originally talking about? I haven't been down that way in a while, but I may be downtown tomorrow...

[GarrettCarey]

Wrong side of Woodal Rogers UrbanLandscape...my friend

[CTroyMathis]

Yeah, that's the wrong side for sure. The sign representing that 'proposed' Arts District Tower development is starting to rust (unfortunately and literally.) In other words, it's been there awhile and it's supposedly going to be taller than 16st if ever built. Maybe after Nasher... who knows, except the market influences, eh?

I'm definitely curious about this Garrett! I'm hardly ever home anymore and I surely rely on fellow Dallas citizens to keep us informed! Any chance someone can take a quick digital picture of the sign/site? I certainly can't seem to find anything online about it yet...

[GarrettCarey]

I'll see what I can do.

[paulsukhudallasmetropolis]

Steve Brown's Real Estate Column from today's DMN:


Crow markets building


Efforts to market another building north of downtown have quietly begun.
Trammell Crow Co. is marketing the proposed 16-story, 312,000 square-foot office building that would be constructed at the northeast corner of Harwood Street and McKinney Avenue.

The development site is owned by Dallas' Corrigan family, which has also considered plans for a hotel on part of the site, real estate brokers say.

[gc]

There is a lot of empty office space in the CBD, but if a new development will help lure another company to the city then I am for it! Perhaps Trammell Crow Co. knows something that we do not. We'll see I guess.

[freewaytincan]

As I have said, they would be very foolish to not include retail.

[CTroyMathis]

Yeah, Trammell Crow sure is full of a unique bunch of people. They pulled 2100 McKinney out of nowhere and it not only is fairly attractive- but, I think it's mostly full?! This is pretty interesting. Maybe, downtown will be a neighborhood one day for office workers in uptown.... joke, of course...hmm.

[freewaytincan]

Garrett's signature seems to be relavent to the situation: why not look at redevelopment inside the "noose" instead?

Oh well, it could be worse...much worse!

[downtownbum]

does anyone know what vacant lots are going for in downtown vs uptown these days? it may be comparable, and T Crow thinks that for a 16 or so story office building uptown is more lucrative than dt. there is a building i can see from my balcony, i think 1200 main, nice 20 story glass office building, built in the 1970s, rents for about $1/ft, and i bet there are 12 floors empty. i may be ignorant to the circumstances, but it seems to me that they are just not marketing the 4-5 office buildings dt that are underused (2001 Bryan-- a friend works there, nice building, on the rail, i think about 1/2 empty, and i know he pays only $0.85/ft)

[214]

check out this building called 2000 mckinney,trammel crow is suppose to building it,its going to be 17 stories and have 327,960sq.ft its also going to have a 6 story parking garage with 1,162 parking spaces,the building is suppose to be finished in the year 2005

[bloodandpopcorn]

Yeah, I saw the sign for this walking from the DMA to the west village (decided to bypass the trolley) yesterday... It looks very nice, and that area of Uptown is just about to fill up. Which will be GREAT to see. I'd realy like to see the two residential buildings there get retail on the ground floor, though, and get the existing retail spaces in the area revamped so that it looked as alive as the rest of McKinney & the West Village, though.

[psukhu]

Although this is not the most ideal urban design, it is much better than the run down buildings currently on that block.

It should have great views.

[gc]

This proposed development has been mentioned somewhere else. I have been unable to find anything about this, other than the street sign. Where did you get this information?

[214]

trammel crow is advertising it on www.webrealestate.com

[freewaytincan]

Good ol' WebRealEstate.

[evdallas]

intersection of Olive and Woodall Rogers on the southwest corner.

I was driving by and noticed a sign for a 16 story office building to be developed by trammel crow. Anyone familiar with this project? was wondering if I had just never seen the sign before and also what the title of the building might beas well as construction dates.

[bloodandpopcorn]

I've also seen that sign; the first time I saw it was this May. I don't know if it's old or new as-of-this-year, but either way since I haven't heard anything and it doesn't seem to have any lot clearing going on, I'm not sure if this proposal is still going forward?

[evdallas]

yeah I saw it had renderings on it, so I think I will go take a picture to post here. Also I noticed that the land is being used for the Nasher Sculpture Garden's Landscape Supply, alot of trees and stuff on it at the moment.

[evdallas]

sign

[bloodandpopcorn]

Thanks for posting the sign! I had forgotten that there was a phone number on there... Maybe I'll call them tomorrow and see if I can get any more information.

[214]

we talked about this project a couple of months back, i cant remember on what thread its on but we did talk about this a while back

[gc]

Just merged the old and the new threads....

[evdallas]

so i guess we know nothing of the status then?

[snooch]

I'm probably totally wrong on this, but I'll take a shot anyway. Aren't all the materials for the Nasher Garden being housed in that lot? Do you guys think maybe they're just waiting for the sculpture garden to be completed before starting? I don't even know if that's possible, unless the NSG had committed to use that land for storage before Trammell Crow decided to move forward with development.

[gc]

They are probably trying to do some pre-leasing as well. There really hasn't been a lot of speculative development in this area in a long long time....except of course 2525 McKinnon.

[Kelley USA]

Correct me if I'm wrong- but didn't they tear down several structures on that lot about a year ago? I remember an old bank branch or some such...

[gc]

not real sure on that one....I know the bank one branch still exists...to the west of this proposed development.

[bloodandpopcorn]

Kelley, I remember something like that too. I can't remember exactly how long ago, bit i seem to remeber it being about a year or slightly more.

Anyway, if they are indeed housing the Nasher materials, then I guess they can't start until that's done. Whether they start anytime soon after the opening remains to be seen, but it would make sense that they could not start until then.

[maconahey]

In Uptown, it's back to the office
Lincoln seeks tenants for area's biggest tower since 1999


10:50 PM CDT on Monday, May 23, 2005


By STEVE BROWN / The Dallas Morning News


So far, the Uptown building boom has focused on residential and retail.

But that may soon change.

Developer Lincoln Property Co. is seeking tenants for the biggest office tower to be built in the area in more than a decade. Lincoln's building will have 400,000 square feet of space in 20 stories.

The site is on McKinney Avenue, a couple of blocks from the Crescent complex.

Officials with Lincoln Property could not be reached for details about the timing of the development. But the Dallas-based commercial builder is sending out brochures to prospective tenants and has put up a sign on the site at McKinney and Harwood Street.

The last big office tower built along McKinney was 2100 McKinney, which opened in 1999 across from the Dallas Federal Reserve Bank. That tower has 360,000 square feet of office space on 18 floors.

The office vacancy rate in Uptown and Turtle Creek is about 12 percent, which is less than half the citywide number.

"Supply presently is tight," said Jon Altschuler, managing director of Stream Realty Partners. "While demand currently is not exceptionally deep, there are several tenants floating around of size that could certainly serve as the impetus to jump-start a new development."

Plus, most brokers expect that Lincoln Property would move its own offices from the Lincoln Plaza skyscraper on Akard Street to the new building.

"I think the market is ripe for one or two new buildings in the Uptown area," and Lincoln is likely to build, said Joel Pustmueller of Peloton Real Estate. "There are only a handful of office development sites left, so overbuilding isn't likely this time around."

Architect HKS Inc. designed Lincoln's building, real estate brokers say.

"They've designed a really nice property, and they're an exceptional developer of office space," Mr. Altschuler said. "If anyone could make it work, you'd think it would be Lincoln."

There are a few other Uptown office projects in the works.

Harwood International plans to begin construction this year on a 23-story, 273,000-square-foot glass-and-metal tower at the corner of Harry Hines Boulevard and Moody Street.

The developer has been working on the project since early last year.

Ross Perot Jr.'s Hillwood development firm also plans to start construction this year on its 45-story One Victory Plaza tower, which will have 300,000 square feet of office space.

And CarrAmerica Realty Corp. has been working with Dallas-based Rosewood Corp. on a multi-tenant office building that would be constructed on Pearl Street near Cedar Springs Road.

"The market can get overbuilt very quickly, and since this is Dallas, you'd have to bet that it most likely will," said Mr. Altschuler.

E-mail stevebrown@dallasnews.com


http://www.dallasnews.com/sharedcontent/dws/img/05-05/0524office.jpg

[drumguy8800]

YAY LoMac is filling in.

And two tower announcements per day is HOTT.

[Texan#1]

Great News... lets keep this up!

[aceplace]

I think LoMac stands a better chance of becoming a pleasant business district because of its walkability, especially if it retains its mix of retail, residential and office. Obviously the CBD is leapfrogging Woodall Rogers and extending north... and let's hope we've learned from the mistakes made in the Old Downtown... building 50 story buildings surrounded by parking lots.

[hamiltonpl]

I think it is safe to say -- Uptown is booming. What is on this site right now?

[Columbus Civil]

Isn't HKS, along with that funky triangular tract on the other side of Harwood from this?

[barrycb]

Isn't HKS, along with that funky triangular tract on the other side of Harwood from this?


Yep. And there goes the view from 1999 McKinney :(

[Kelley USA]

I wonder if this is the same building design that was previously posted by Trammel Crow? I know there is a photo of that posted somewhere on this site (looked a bit like the Federal Reserve Building). Just curious if they will use the same design or if Lincoln came up with something different...

[tamtagon]

Plus, most brokers expect that Lincoln Property would move its own offices from the Lincoln Plaza skyscraper on Akard Street to the new building.

Does anyone know how much space Lincoln takes up in Lincoln Plaza? I wonder which other DFW companies would relocate to the new building and/or Lincoln Plaza.

[Tnekster]

With this annoucnement plus the plans in Victory, Harwood, Ritz, Rosewood it does seem that downtown as we know is shifting to the north side of Woodall.

[rantanamo]

Woodall is the new Main St almost. It will shift back south again though.

[carousel]

I can't wait to see these buildings grow!

[psukhu]

With this annoucnement plus the plans in Victory, Harwood, Ritz, Rosewood it does seem that downtown as we know is shifting to the north side of Woodall.

Downtown still has much more office space and is in the center of the LRT network.

Eventually Uptown will run out of vacant land and the developers will probably shift towards to the south. I think this will be mostly because of zoning. They can't go tall in Oak Lawn.

As vacant land continues to disappear, keep in mind that developers will be able to go taller within the downtown loop.

[Tnekster]

Downtown still has much more office space and is in the center of the LRT network.

Eventually Uptown will run out of vacant land and the developers will probably shift towards to the south. I think this will be mostly because of zoning. They can't go tall in Oak Lawn.

As vacant land continues to disappear, keep in mind that developers will be able to go taller within the downtown loop.

I am thinking more about where the activity is and where the energy is. And that is not downtown as we know it today. But having said that I also think the center of activity will be very fluid in years to come and may well indeed move back into what we have traditionally thought of as downtown. But I also know the Dallas Chamber is reconsidering where they the center of downtown really is these days. It appears to be emerging north of Woodall which over time will prove to be a good thing for the central city overall.

[drycreek]

Shouldn't this, couldn't this be a lot taller? If it's going to be 400k why not go up with it?

[Milkman Dan]

It should tell you something about Lincoln's opinion of the prospects for downtown (vs. uptown) that they chose one of only 2 or 3 lots left in uptown for a huge price premium over many more locations downtown. Knowing Lincoln and the players involved in this deal, it will be first class all the way. I would imagine people will clamor to step foot inside the Lincoln offices (assuming they do move) to see the finish out - their current corp. space in Lincoln Plaza is one of the nicest I've ever seen.

"If anyone could make it work, you'd think it would be Lincoln." - that is a great quote, and very true. These guys are some of the most experienced office developers in the nation, and we all should take heart in the fact that they are building space once again after a long lull. This is a great sign for the office market.

[tamtagon]

Downtown still has much more office space and is in the center of the LRT network.

Eventually Uptown will run out of vacant land and the developers will probably shift towards to the south. I think this will be mostly because of zoning. They can't go tall in Oak Lawn.

As vacant land continues to disappear, keep in mind that developers will be able to go taller within the downtown loop.

Additionally, the city will be putting lots of empahsis to expand the appeal of the areas around the Convention Center. The West End's near monopoly on the tourist trade should be busted up as the Conv Ctr area becomes home to more "stuff" geared for the convenience of Covention visitors. The city is going to either underwrite a 1,000 room hotel, or underwrite a complex of shops, restaurants and nightclubs. The two go hand in hand since the hotel is certain to have a steady high occupancy rate, and overnight visitors need things to be within walking distance.

Municipal, business and tourism leaders are very aware of the need to surround the Conv Ctr with a wide variety of activities - mkt research has shown this to be the primary complaint of convention goers for several years now, and it's pretty clear the city council wont let the situation continue.

Who knows when, where and how, but another LRT route will improve accessibility to the Eastern side of the CBD.

The bulk of office & residential space and retail/entertainment operations on the dormant eastern side of the CBD will be priced to serve the majority of the population. Luxury residential and Class AAA office space will be thankfully uncommon and will provide the extreme density and volume to make for a very balanced city offering to the very expensive accommodations in LoMac.

As soon as the LoMac real estate market reaches the point at which the older, low rise place holding structures are the extent of potentially redevelopable sites in LoMac, then we should see a rush to redevelop the warehouse and vacant properties on the east side. DART rail connectivity between Victory and Conv Ctr will be one of the foundations for office towers in the CBD.